Global Talent Squeeze Continues to Affect Employers

As the global economy slowing gains traction, HR professionals around the globe struggle to find the right people for technical and skilled jobs. Deloitte says this talent shortage makes employee retention and engagement strategies even more critical.

In the 2014 “Global Top Five Total Rewards Priorities Survey,” finds HR leaders are focused on talent as one of the top challenges over the next three years. The study is conducted by Deloitte, the International Society of Certified Employee Benefit Specialists, and the International Foundation of Employee Benefit Plans.

The survey finds talent shortages, combined with managing the dynamics of four distinct generations in the workforce, points to the need for more effective and adaptable talent strategies and rewards programs.

The survey, conducted globally for the second time this year, 22 different countries ranked these the top five priorities for 2014:

Aligning total rewards with business strategy by attracting, motivating, and retaining employees

Reducing the costs of providing healthcare and other non-cash benefits to employees